A number of campaigners for indexation of UK State Pensions paid to expats in Australia and Canada see an opportunity with Brexit to achieve with this matter. This has support for some UK members of Parliament, like Sir Roger Gale – the Chairman of the All-Party Parliamentary Group on Frozen British Pensions.
The world is divided into two zones. The countries like EU countries, USA etc. receive indexations. Expats in countries like Australia, Canada and New Zealand do not. It’s a short-sighted view as there is a net overall saving when an older person leaves the UK e.g. in NHS Health cost savings. For more information see “frozenbritishpensions.org”.
I am interested to investigate the migration ramifications that Brexit is likely to have. With a visit of a couple of weeks shortly to the UK, I will have an opportunity to get a local view. It will also be interesting to see whether the UK independent financial adviser sign off will be watered down for QROPS transfers – and any developments on public sector unfunded defined benefit transfers. I will publish a blog update shortly.
The NetActuary Team